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Affordable Housing in Oak Forest - Garden Oaks: LIHTC Development and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Oak Forest - Garden Oaks, a neighborhood in Houston, Texas, has a history of affordable housing development through the Low-Income Housing Tax Credit (LIHTC) program. The area contains 340 total units in LIHTC-funded projects, with 326 designated as low-income units. This represents approximately 2% of the neighborhood's estimated housing inventory, based on the 2022 population of 44,454 and an estimated 17,032 housing units.
The neighborhood has experienced LIHTC-funded affordable housing development over more than a decade. The earliest recorded project, Dominion Square Apts, was completed in 2002, while The Orchard At Garden Oaks and Ranch At Silvercreek were completed in 2011 and 2012, respectively. This indicates a consistent effort to provide affordable housing options in the area over time.
The 2010s saw the most activity in LIHTC-funded affordable housing development, with two projects completed during this decade. This suggests a renewed focus on addressing affordable housing needs in the neighborhood during that period.
Over the past decade, Oak Forest - Garden Oaks has experienced notable demographic shifts. The population has grown from 42,441 in 2013 to 44,454 in 2022, indicating a steady increase in residents. Concurrently, the median income has risen significantly, from $63,092 in 2013 to $88,701 in 2022, suggesting an overall improvement in economic conditions for the neighborhood's residents.
Racial demographics have remained relatively stable, with some minor shifts. The Hispanic population has decreased slightly from 44% in 2013 to 40% in 2022, while the White population has increased marginally from 45% to 47% during the same period. The Black population has remained consistent at around 7%, and there has been a small increase in the Asian population and those identifying as two or more races.
These demographic trends, particularly the rising median income, may explain why there haven't been new LIHTC projects recorded in recent years. The increasing affluence of the neighborhood could potentially reduce the perceived need for additional low-income housing developments.
Oak Forest - Garden Oaks has a modest LIHTC-funded affordable housing inventory, representing about 2% of the estimated housing stock. The neighborhood saw LIHTC development activity primarily in the early 2000s and 2010s, with four projects totaling 340 units. While this falls short of the ideal 15-20% affordable housing stock target, it's important to note that other affordable housing programs may contribute to the overall inventory.
The area has experienced population growth and significant income increases over the past decade, which may influence future affordable housing needs. Despite these changes, the racial composition has remained relatively stable, with slight decreases in the Hispanic population and increases in the White and multi-racial populations.
This analysis provides an objective view of the LIHTC-funded affordable housing landscape in Oak Forest - Garden Oaks, highlighting the existing inventory and its relationship to demographic trends. Further research into other affordable housing programs and local housing policies would provide a more comprehensive understanding of the neighborhood's overall affordable housing situation.
